After a long career at Barron's, I joined Forbes as San Francisco bureau chief in December 2010. I've been writing about technology and investing for more than 25 years. With the Tech Trade, I've picked up where I left off when I was writing the Tech Trader Daily blog at Barrons.com. When I'm not working, you can find me riding my road bike around the Bay Area hills, managing my fantasy baseball team, rooting for my beloved Phillies and Eagles and hanging out in the Valley with my family. You can follow me on Facebook, on Twitter (@savitz), and on Google+.

For the period, Applied posted sales of $1.57 bilion, down from $1.65 billion in Q4 and $2.19 billion a year ago, but ahead of the Street at $1.55 billion. Non-GAAP profits were 6 cents a share, ahead of the Street at 3 cents. The company noted that orders in the quarter were $2.11 billion.

“We executed well through the bottom of this industry investment cycle and, with our semiconductor orders up over 80 percent from the previous quarter, we are optimistic about the potential of our markets this year,” CEO Mike Splinter said in a statement. “2013 looks to be another strong year for mobile products like smartphones and tablets, and customers are increasingly turning to Applied to help solve the technology challenges they face in this growing market.”

For Q2, the company sees sales up 15%-25% sequentially, which implies a range of $1.8 billion to $1.96 billion, ahead of the old Street consensus at $1.79 billion. Applied sees profits for the quarter on a non-GAAP basis of 9-15 cents a share; Street consensus had been 10 cents.

Post Your Comment

Post Your Reply

Forbes writers have the ability to call out member comments they find particularly interesting. Called-out comments are highlighted across the Forbes network. You'll be notified if your comment is called out.